As a seasoned crypto investor with several years of experience under my belt, I’ve learned to pay close attention to technical indicators when making investment decisions. And based on the current market data for AGIX, a leading AI token in the crypto space, these indicators suggest an upward rally is on the horizon.
AGIX is one of the leading AI tokens in the crypto space with a total supply of 2 billion, and a total trading volume of over $105 million, which is over 11% down in the last 24 hours.
Over the past two days, the AGIX token’s price has remained robustly above its 100-day Simple Moving Average (SMA), suggesting a potential shift in its downward trend. This turnaround could lead to a reversal of direction and initiate a new upward trend for AGIX.
At the point of composition, AGIX was hovering approximately 1.68% higher than its 100-day SMA, which stood at around $0.98817. Over the past day, its price had risen by roughly this amount. Noteworthy resistance levels were found at $0.99038 and $1.04237, while support was offered at $0.82620 and $0.75779.
Technical Indicators Suggest Upward Rally For AGIX
From a technical perspective, examining the MACD indicator at the 4-hour chart, the histograms exhibit an uptrend as they hover above the zero line. Furthermore, both the MACD line and the Signal line display an upward trend, having crossed above the MACD line zero, signaling a bullish market condition. This bullish trend is clearly illustrated in the following image.
The Relative Strength Index (RSI) chart for AGIX depicted in the given image implies a bullish trend for its price. This is because the RSI signal line is noticeably above the 50% threshold, signifying that buying activity outpaces selling activity within the market.
As a researcher analyzing the alligator indicator on the 4-hour chart, I’ve observed that the price is currently trading above the alligator lines. The alligator lip and teeth have both crossed above the alligator jaw, indicating that this bullish signal may persist, potentially leading to further upward price movement.
Support And Resistance Levels To Break
As a crypto investor, I can confidently say that the price of AGIX is hovering near the $0.99038 resistance point at the moment. Should AGIX successfully surpass this hurdle, we could see its price inching closer to the next resistance level at $1.04237. If AGIX manages to breach this level as well, then we might be looking at the start of an uptrend for this cryptocurrency.
As a researcher studying the AGIX market, I’ve identified some key resistance and support levels. If the price of AGIX is unable to surpass these resistance levels, it may result in a price reversal and a downward trend back toward its previous support level at $0.82620. Should the price fall below this support level, further declines could occur, potentially leading the price to test the next support level at $0.75779.
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2024-05-18 18:04